NEWTOWN, Conn. (August 4, 2009)–The National Shooting Sports Foundation reports that according to the most recent Firearms and Ammunition Excise Tax Collection Report released last week by the Department of the Treasury, firearm and ammunition manufacturers paid more than $109.8 million in the first calendar quarter of 2009; up 43% over the same time period reported in 2008.
This dramatic increase follows a 31.3 percent increase in excise taxes from the previous quarter (4Q, 2008) and eight straight months of increased FBI background checks – another strong indicator of firearm sales.
A third reliable source, the National Sporting Goods Association (NSGA), reported that in 2008, “Hunting and Firearms” equipment was the only category to grow double digits and only one of seven categories that exhibited growth. NSGA’s forecast for 2009 shows “Hunting and Firearms” as one of only two categories to exhibit growth.
Manufacturers of firearms and ammunition pay a federal excise tax — a major source of wildlife conservation funding — on all firearms and ammunition manufactured (11% on long guns and ammunition and 10% on handguns).
This latest excise tax report, which covers the time period of January 1, 2009 through March 31, 2009, shows that the following amounts were collected in taxes for various firearms market segments:
$33.0 million for pistols and revolvers, up 65.5% from 2008;
$38.9 million for long guns; up 28.3% from 2008;
$37.8 million for ammunition, up 42.9% from 2008;
Translation to sales:
Using the latest collections as an indicator of sales, a projection of $1.03 billion was generated in the first quarter (calendar year) of 2009, broken down by segment:
Pistols and revolvers: $330.4 million
Long guns: $354.3 million
Ammunition: $344.0 million
